Presented here are the financial statements of Blossom Company. Blossom Company Comparative Balance Sheets December 31 Assets 2022 2021 Cash $36,900 $20,000 Accounts receivable 32,700 18,300 Inventory 29,100 20,000 Property, plant, and equipment 59,600 78,000 Accumulated depreciation (29,700 ) (23,000 ) Total $128,600 $113,300 Liabilities and Stockholders' Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total Blossom Company Income Statement $28,400. $16,700 7,200 8,200 26,200 32,700 17,200 13,900 49,600 41,800 $128,600 $113,300 For the Year Ended December 31, 2022 Sales revenue $241,500 Cost of goods sold 176,500 Gross profit 65,000 SUP Selling expenses $17,550 Administrative expenses Blossom Company Income Statement For the Year Ended December 31, 2022 Sales revenue $241,500 Cost of goods sold 176,500 Gross profit 65,000 Selling expenses $17,550 Administrative expenses 5,850 23,400 Income from operations 41,600 Interest expense 3,400 Income before income taxes 38,200 Income tax expense 7,640 Net income $30,560 Additional data: 1. Depreciation expense was $16,300. 2. Dividends declared and paid were $22,760. 3. During the year equipment was sold for $8,800 cash. This equipment cost $18,400 originally and had accumulated depreciation of $9,600 at the time of sale. 4. Bonds were redeemed at their carrying value. 5. Common stock was issued at par for cash. Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a sign eg.-15,000 or in parenthesis e.g. (15,000).) Blossom Company Statement of Cash Flows - Indirect Method Adjustments to reconcile net income to 0 < 0 > S SUPPORT 0 0 $ 59 0